January 10, 2022 | FOR IMMEDIATE RELEASE
Park City, UT and Toronto, ON (January 10, 2022) – DW Healthcare Partners (“DWHP”) a healthcare-focused private equity firm, announced the completion of its investment in Vets Plus, Inc and Noble Pharma, LLC (“Vets Plus “, “Noble”, or the “Company”). Vets Plus is a full-service developer and manufacturer of nutraceutical solutions for the companion animal and livestock markets. Noble is an FDA registered manufacturer of animal health pharmaceuticals. Since 1990, Vets Plus has been a trusted supplier developing uncommonly palatable products for a diverse set of customers.
“Over the years, Vets Plus has developed an extremely unique formulation and manufacturing skillset in order to provide their customers with exceptional products,” said Eric Moore, Principal at DWHP. “Vets Plus is at the center of the rapidly growing companion animal nutraceutical market and we are excited to help the Company continue to provide excellent service and products to pet owners around the world.”
“We are thrilled to be partnering with Raj Lall, Dave Nelson, Alok Kulshreshtha, and the rest of the team,” said Doug Schillinger, Managing Director at DWHP. “They have a proven track record of innovative growth. We look forward to supporting them as the business continues to scale in its traditional nutraceutical market and develops more complex pharmaceuticals at Noble.”
Concurrent with the close, Raj Lall will transition his remaining day-to-day responsibilities to Dave Nelson who will become President and Chief Executive Officer of Vets Plus. Raj will remain an owner and valued member of the team serving on the board of directors.
“Our partnership with DWHP provides the growth capital and management depth to improve our CMO customer relationships, expand our capabilities, accelerate new product commercialization, and scale operations,” said Dave Nelson, President and Chief Executive Officer at Vets Plus. “DWHP brings extensive market knowledge and a heightened level of sophistication to the Company. We are extremely blessed to have a strategic partner who shares our vision of superior customer service and best-in-class quality systems.”
“DWHP is the right partner for us going forward to help grow our pharmaceutical presence and gain market share in our nutraceutical business. I’m excited for the next leg of our journey as I focus on research, product development, and serving on the board,” said Raj Lall, Founder and board member of Vets Plus. “I have complete confidence in Dave Nelson who has led our day-to-day operations as President for the past six years and will lead the Company as CEO.”
Doug Schillinger, Eric Moore, Paul Hays, and Dr. Chandralal Weerasignhe will join Raj Lall on the board of directors at Vets Plus. Vets Plus represents the sixth investment in DWHP’s fifth fund.
About Vets Plus
Vets Plus, Inc. is a full-service manufacturer of animal nutritional supplements and treats for livestock and companion animals. Since 1990, customers have sought out Vets Plus for their strength in developing innovative formulations in a variety of dosage forms. With a focus on quality, Vets Plus has provided customers with high-quality products tested for efficacy, stability, and safety. All products are manufactured in the United States, distributed nationally, and exported to more than 20 countries: vets-plus.com
About Noble
Noble Pharma, LLC is an FDA approved manufacturing facility focused on developing and manufacturing extremely palatable products for the animal health market. With more than 50,000 square feet, Noble has the ability to manufacture soft chews, creams, ointments, suspensions, tablets, powders, and pastes. Noble is based in Menomonie, Wisconsin: noblepharmallc.com
About DW Healthcare Partners
DW Healthcare Partners is a private equity firm focused exclusively on the healthcare industry. The firm manages over $1.43 billion in aggregate capital commitments and invests in leading healthcare companies with proven management teams. DW Healthcare Partners is led by seasoned healthcare executives with more than 120 years of combined industry experience. The firm provides capital, strategic guidance, and acquisition expertise to help mid-stage companies grow and scale. For more information, please visit: dwhp.com
Forward-Looking Statements
This press release contains forward-looking statements regarding our future business expectations, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release, including statements regarding future results of the operations and financial position of the Company, including financial targets, business strategy, and plans and objectives for future operations, are forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from the results predicted. New risks emerge from time to time. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated.
